Coeur Mining Acquires New Gold’s New Afton and Rainy River Mines, Funds $750M Buyback
Coeur Mining completed the March 20, 2026 acquisition of New Gold, adding the New Afton gold-copper mine in British Columbia and Rainy River gold-silver mine in Ontario. The transaction boosts Coeur’s 2026 gold production guidance by 80% to 680,000–815,000 ounces and funds a $750 million share repurchase program.
1. Deal Completion
Coeur Mining finalized the acquisition of New Gold on March 20, 2026, securing ownership of the New Afton gold-copper mine in British Columbia and the Rainy River gold-silver mine in Ontario.
2. Production Guidance Uplift
The combined platform lifts Coeur’s 2026 consolidated gold production guidance by 80% to 680,000–815,000 ounces, alongside 18.7–21.9 million ounces of silver and 50–65 million pounds of copper.
3. Capital Returns Strategy
Coeur authorized a $750 million share repurchase program and launched a $0.02 per share semiannual dividend, supported by a new $1.0 billion revolving credit facility that replaces the prior $400 million facility.
4. New Afton K-Zone Resource
New Afton’s maiden K-Zone resource comprises 47.6 million tonnes containing 715,000 ounces of gold and 606 million pounds of copper, remains open laterally and at depth, and will enter a feasibility study in H2 2026.